Kadin: 40 Percent of Funds from Exports Ready to be Converted to Rupiah

INDUSTRY.co.id - Jakarta- Chairman of the Indonesian Chamber of Commerce and Industry (Kadin) Rosan Roeslani said he was optimistic that 40 percent of foreign exchange export proceeds could return to the country and be converted to rupiah. This step was taken to re-strengthen the rupiah exchange rate against the US dollar. Until now, the DHE brought home by entrepreneurs has only reached the level of 13.7%, but according to Rosan that number will increase.

"If yesterday was still 13.7%, friends (exporters) said it could be up to 40% within a year," he said at the Coordinating Ministry of Maritime Affairs, Jakarta, Tuesday (09/18/2018).

According to Rosan because the entrepreneurs had previously met and committed themselves to the government to bring DHE back to Indonesia.

"The commitment has been requested (exporters) and has been asked how many details can be converted, how many are in need of goods. This is already underway," he added.

Previously, Bank Indonesia (BI) recorded export earnings (DHE) which were exchanged into rupiahs only reaching US $ 4.4 billion per quarter II-2018.

The data was conveyed by BI Governor Perry Warjiyo during a working meeting (Raker) with the House of Representatives Commission XI on the explanation of the weakening of the rupiah value, Jakarta, Wednesday (05/09/2018).

Perry said that the total export value in the second quarter of 2018 was US $ 43.7 billion, while the total export earnings from exports returned to the village amounted to US $ 34.7 billion.

"DHE entering the banking sector is US $ 32.1 billion, or approximately 92.4%," Perry said